The Manufacturers Life Insurance Company reduced its stake in Merck & Co., Inc. (NYSE:MRK) by 27.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 4,004,874 shares of the company’s stock after selling 1,494,205 shares during the quarter. The Manufacturers Life Insurance Company owned 0.16% of Merck & Co., Inc. worth $311,460,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Cowen Prime Advisors LLC purchased a new position in Merck & Co., Inc. in the 2nd quarter valued at approximately $31,000. PARK CIRCLE Co grew its position in shares of Merck & Co., Inc. by 100.0% in the second quarter. PARK CIRCLE Co now owns 400 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. AlphaMark Advisors LLC bought a new stake in shares of Merck & Co., Inc. during the 2nd quarter valued at $39,000. Lake Point Wealth Management purchased a new stake in Merck & Co., Inc. during the 2nd quarter worth about $40,000. Finally, ShoreHaven Wealth Partners LLC boosted its position in shares of Merck & Co., Inc. by 55.5% in the first quarter. ShoreHaven Wealth Partners LLC now owns 619 shares of the company’s stock valued at $48,000 after acquiring an additional 221 shares during the period. 71.83% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on MRK shares. SVB Leerink lifted their price target on shares of Merck & Co., Inc. from $99.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, July 30th. Truist Securities started coverage on Merck & Co., Inc. in a research report on Tuesday, July 27th. They issued a “buy” rating and a $76.79 target price for the company. Truist started coverage on shares of Merck & Co., Inc. in a research report on Tuesday, July 27th. They issued a “buy” rating and a $92.00 target price on the stock. Zacks Investment Research raised shares of Merck & Co., Inc. from a “sell” rating to a “hold” rating and set a $82.00 price objective on the stock in a research note on Tuesday, August 24th. Finally, JPMorgan Chase & Co. dropped their target price on Merck & Co., Inc. from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $91.09.
Merck & Co., Inc. (NYSE:MRK) last released its earnings results on Wednesday, July 28th. The company reported $1.31 EPS for the quarter, meeting analysts’ consensus estimates of $1.31. The firm had revenue of $11.40 billion for the quarter, compared to analysts’ expectations of $11.21 billion. Merck & Co., Inc. had a return on equity of 50.93% and a net margin of 11.48%. During the same quarter in the prior year, the firm posted $1.37 earnings per share. As a group, research analysts anticipate that Merck & Co., Inc. will post 5.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Wednesday, September 15th will be paid a dividend of $0.65 per share. The ex-dividend date is Tuesday, September 14th. This represents a $2.60 annualized dividend and a dividend yield of 3.53%. Merck & Co., Inc.’s dividend payout ratio (DPR) is presently 43.77%.
Merck & Co., Inc. Profile
Merck & Co, Inc engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.
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